This may seem pretty straight forward to most, but it is actually the first time I have had this situation, and I am wondering what you would do.
One of my tenants called me yesterday to tell me her roomate is moving out. Both are on the lease. She is planning to stay and her boyfriend is moving in.
I told her that I would be coming over and would want to make an amended lease. Would you make sure the boyfriend is on the amended lease too? What things should I consider in this change?
I would want to have him submit a application and then do a credit check on him as well as have him on the new lease. You need to know who is living or going to be living in your investment and the more info you have the better it will be if a problem shows up.
Amend the lease. Depending on the time left on the original lease I may only extend the new amened lease for the balance of the time left on the original and use that as a trial period to see if the tenant is a good fit or not giving both you and the tenants the option to change up things once the lease expires.
Also make sure the boyfriend replaces any damage deposit you may owe to the leaving roommate before you pay it back or have them work it out themselves leaving your damage deposit intact, You may want to have something signed by all parties as to how this is going to be handled so there is no confusion .
Bottom line, don't let the boyfriend in until a full credit/background check has been completed. If his credit is poor or he just doesn't have much then get parents to co-sign, treat this like a new lease up, with full walk through report done as well.
